JOHN Lewis Partnership unveiled its first change at the top for 14 years yesterday after chairman Sir Stuart Hampson announced plans to retire.

His position will be taken in March by Charlie Mayfield, who is currently the managing director of the John Lewis department stores business.

Under the leadership of Sir Stuart, who will be 60 next month, the partnership has established itself as one of the UK's top ten retail businesses with 26 department stores and 184 Waitrose supermarkets.

It is the UK's largest example of worker co-ownership where all 65,000 staff are partners in the business.

Sir Stuart said his decision to step down removed "an unwelcome distraction", as his retirement had started to generate speculation outside the business.

He added, "The partnership is in sound health in democratic and commercial terms and I consider this an appropriate time to hand over to a new chairman who will bring fresh ideas to its leadership."

Sir Stuart looks set to leave the business on a high after the department stores business achieved record weekly sales figures ahead of Christmas - at a time when other retailers are reported to be struggling. In September, the business posted a 25% rise in pre-tax profits to £97m.

His time at the helm has brought steady expansion, as well as modernisation of the product offering. There have also been major overhauls of flagship stores at London's Sloane Square and Oxford Street.

Sir Stuart joined the partnership in 1982 and, after gaining experience in a number of department stores, became managing director of Tyrrell & Green - now called John Lewis Southampton. He was appointed to the board as director of research and expansion in 1986.

Mr Mayfield, who will be 40 this month, joined the partnership in March 2000 and has served on the board for five years, including the last two as department stores boss.